Emerson Agrees to Acquire Paradigm
On October 16, 2017, Emerson agreed to acquire Paradigm®. With this acquisition, Emerson will strengthen its ability to help oil and gas operators improve their ultimate recovery and reduce operating costs, supporting Emerson’s Operational Certainty program.
This acquisition positions Emerson as the largest independent provider of Exploration & Production software solutions. Paradigm products will coexist with Emerson’s other products, delivering value well into the future. Joined with Emerson’s existing Roxar software business, it creates a best-in-class, end-to-end Exploration & Production software portfolio, with offerings spanning seismic processing and interpretation to production modeling. Paradigm technology will broaden Emerson's software capabilities and enable it to better help oil and gas operators increase efficiency, reduce costs and improve return on investment.
The Paradigm organization will extend Emerson’s global reach of Geology, Geophysics & Engineering specialists, allowing customers to receive outstanding technology support locally anywhere they do business.
Emerson's expanded services now enable oil and gas operators, through machine learning and cloud computing, to make decisions in the field, leading to more efficient operations.
The acquisition is expected to close within 60 days of the agreement, subject to various regulatory approvals.